Market Loses Staggering $26 Billion in 24 Hours

Twitter Facebook LinkedIn Over the last 24 hours, the crypto market suffered a devastating wipeout of more than $26 billion, making it one of the most intense daily sell-offs in all of 2018. Bitcoin (BTC), which demonstrated a record high level of stability from August to November, recorded a drop of more than 11 percent within a 12-hour period. The unforeseen decline in the price of BTC led other major cryptocurrencies and small market cap digital assets to initiate steep downward movements. Bitcoin Cash (BCH) recorded the worst drop on…

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Ethereum Classic Price Analysis: ETC/USD Tumbles To New 2018 Low

Key Highlights Ethereum classic price declined sharply and broke the $8.00 and $7.00 supports against the US dollar. There is a short term consolidation pattern forming with resistance at $7.70 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair is in a major downtrend and it could decline again towards $7.00 or $6.70 in the near term. Ethereum classic price is under heavy selling pressure against the US Dollar and Bitcoin. ETC/USD traded to a new 2018 low below the $7.00 support. Ethereum Classic Price…

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Ripple Price Analysis: XRP/USD Nosedives, Turns Bearish Below $0.4600

Key Highlights Ripple price declined heavily and broke the $0.4860 and $0.4400 support levels against the US dollar. There is a crucial bearish trend line formed with resistance at $0.4720 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is struggling to recover above the $0.4600 and $0.4700 resistance levels. Ripple price fell sharply below key levels against the US Dollar and Bitcoin. XRP/USD is correcting higher, but it remains sell on rallies near $0.4700. Ripple Price Analysis The past three sessions were destructive as…

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Below $200 ETH Mining is Useless, Hash Rate Drop

After 11 months of relentless bears, statistics from Susquehanna, a US based trading and technology firm has confirmed that mining Ether is no longer profitable. This is mostly due to a relentless bears that have since drove prices from $1400 to $200. Because of this, monthly mining profitability is now zero, down from $150 registered mid last year. The Drop in ETH Mining is Because of Serenity Unlike Bitcoin, Ethereum mining utilizes GPU chip sets. Though they guarantee complete decentralization, Ethereum does not have a predetermined issuance model. Then again…

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BCH/USD Could Test $300 or $850 by End Week

Latest Bitcoin Cash News Today marks the a new beginning or the end of Bitcoin Cash assuming Craig Wright wins the hash rate game and mine empty blocks before Roger Ver mining pools. For all we know, this is going to be a supremacy war. As Craig and Calvin Ayre commit to save the original Satoshi protocol from dissolution, the market is jittery. Therefore, before tomorrow we may witness serious price capitulation and inevitable losses for ordinary investors. Interesting read. Bitmain should stop forcing Hash wars and look after their…

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BTC/USD Must Dump before Bulls Reign in 2019

The Bitcoin FUD It’s a capitulation. It’s the end of Bitcoin. It’s a Bitcoin Sell-off. And it’s true; a typical Bitcoin investor is bleeding right now. But a critical look at price action and historical price movement paints a rosy picture: Prices will most likely recovery and print higher in the next few months. Hello, yes, SEC? Yeah hi, I put all my money in this bitcoin game and I’m not having fun anymore… I’d like to process a refund? I think the man’s name is Satooshi Nakomoku? Yes, I’ll…

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Bitcoin Price Sinks to New Yearly Low as Sell-Off Batters Crypto Markets

Twitter Facebook LinkedIn The crypto market’s extended stable action took its last breath on Wednesday as the bitcoin price dipped to a new yearly low at 5280-fiat. The BTC/USD index fell more than 12 percent ahead of the US trading session, now trading at 5439-fiat on Coinbase. The pair was trading comfortably inside a narrow trading range since September, leading many to believe that it had established a bottom around 6000-fiat. The latest selling action brought BTC/USD to its weakest mark since October 2017. The bitcoin flash-crash cannot be fit…

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Tokens Continue to Drop, is SEC Preparing to go After Crypto Projects?

Twitter Facebook LinkedIn The price of Bitcoin has dropped by 10 percent over the last 24 hours following a severe sell-off. Yet, several low market cap crypto and tokens have plunged by twice that amount, posting losses in the range of 20 percent. ERC20 tokens launched on top of the Ethereum blockchain network have performed especially poorly against both Bitcoin and the US dollar over the past several days. Waltonchain, Lisk, ICON, Ontology, Golem, VeChain, WanChain, and many other tokens backed by active developer and investor communities declined substantially in…

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Crypto Market Loses over $8 Billion in Market-Wide Selloff, Intense Downtrend

Today is a tough day for cryptocurrencies. A large-scale selloff action has erased over $8 billion off the crypto market. The total market capitalization is $205 billion at the press time, down from $213 billion from yesterday. The market has a record of recovering from anywhere near $186 billion, which could be called the crypto bottom level of this year. The monthly perspective also shows a stable recovery from circa $200 billion, according to data available at CoinMarketCap.com. Source: CoinMarketCap.com | Global Crypto Market Cap A rebound at this point…

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Crypto Market Wipes Out $8B, Bitcoin Cash Down 24.4% in 1 Week

Twitter Facebook LinkedIn Over the past 12 hours, more than $8 billion was wiped out from the crypto market, as several major digital assets including Bitcoin Cash (BCH) and Stellar (XLM) suffered. For the first time in the past ten days, the price of BCH has dropped below the $500 mark to $480. Within the past week, after securing a monthly high at $630, BCH has dropped by more than 24.4 percent. What’s Happening to Bitcoin Cash? Prior to a hard fork, especially a contentious hard fork in which a…

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